Huang Nubo has increased the share capital of the European branch of his Beijing Zhongkun Investment Group, Zhongkun Europe, from 1.2 million to 23.5 million and has changed the company from a limited company (ehf.) to public limited company (hf.) in order to be eligible to take part in the Central Bank’s foreign currency auction on 19 March, mbl.is reports.
“We’re not stopping,” said Halldór Jóhannsson, Nubo’s spokesman in Iceland, of the Chinese investors interest to make headway into Iceland.
Nubo had previously pursued a rental agreement for an expansive tract of land in eastern Iceland in order to build a luxury tourist village, but his bid was overturned citing regulations against foreigners owning land in Iceland.
The Central Bank is hosting an auction on 19 March to provide interested parties the change to purchase euros in exchange for Icelandic krónur for long-term investment in the Icelandic economy, or in exchange for treasury bonds.
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